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Judgment Search Results Home > Cases Phrase: indian partnership act Court: income tax appellate tribunal itat mumbai Year: 1994 Page 1 of about 2 results (0.052 seconds)

Oct 27 1994 (TRI)

Alpha Associates Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Oct-27-1994

Reported in : (1995)52ITD640(Mum.)

..... . framed the scheme and deployed the funds. the purpose was indeed to earn profit. partnership was formed, at a later date. carrying business is one of the essential ingredient of the partnership. partnership is defined in the partnership act, 1932, as relationship between persons who have agreed to share the profits of a business ..... carried on by all or any one of them acting for all. the very fact that partnership was formed goes to show that partners had ..... to the agreement. admittedly, the deed of partnership firm was made on 10th january, 1985. this is made on two stamp papers of fifty rupees each purchased in the name of m. b. ..... party is not stated on the letter. in what capacity the acceptance was made is also not known. if m/s. alpha associates was a partnership firm at the relevant point of time, it was necessary to explain in the constitution. otherwise it was not possible to cognize the consenting parties ..... was quarrying on the said land, the agreement was not forbidden by law. it is not falling within the ambit of section 23 of the indian contract act, 1872. shri harish further relied on the decision of the apex court rendered in the case of satappa v. appaya air 1968 sc 358 .....

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Jan 19 1994 (TRI)

Mrs. Roshan D. Nariman Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Jan-19-1994

Reported in : (1995)52ITD269(Mum.)

..... heard the rival submissions in the light of material placed before us and precedents relied upon. the assessee is a resident in india and is doing business in partnership in bombay. mr. k.r. bhadha is cousin of the assessee. he is permanently residing in england. mr.bhadha, in january 1986 purchased the premium ..... was invited on the oath made by the assessee before the commissioner for oaths, which is reproduced here as under : i, mrs. roshan dinshaw nariman, an indian citizen and permanent resident of bombay, india, on a temporary visit to london declare that the statement made overleaf by mr. k.r. bhadha, is correct and ..... or distribution of anything by chance; a procedure or scheme for distributing prize by lot; the drawing of lots.section 115bb has been inserted by the finance act, 1986 with effect from 1-4-1987 by which a special provision was made to tax income from winning lotteries, crosswords, puzzels, etc. winning from ..... premium savings bond, in the name of other, cannot be said to be covered by the definition of expression 'gift' in section 2(xii) of the gift tax act.to support this contention reliance was placed on cgt v. mrs. jer mavis lubimqff [1978] 114 itr 90 (bom.), cgt v. dr. r.b. kamdin [ ..... remitted by the department of national savings, u.k. through bank of india, london branch.this amount was stated to be beyond the ken of income-tax act. it was stated that the assessee received the premium savings bond in london on 3-12-1987, as a gift from shri kersi r. bhadha, her .....

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